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Natwest's punishment for going over account limit.

Discussion in 'General Discussion' started by Chads, 13 Apr 2006.

  1. Chads

    Mobster

    Joined: 8 Sep 2003

    Posts: 2,882

    Location: Location Location!

    A long story, but basically my student current account is suddenly £800 over it's limit. Do any of you know how much Natwest is going to charge me for this? Someone told me they might charge £20 a day?

    Any help appreciated,

    Cheers.
     
  2. Orifice

    Man of Honour

    Joined: 1 Oct 2002

    Posts: 5,522

    Its not a day, i think they make a maximum of 3 charges of the same type in a month. Ring them and ask, phone banking is 24hr. Normally their pretty helpful, although i've never been £800 over any agreed limits:p
     
  3. pyro

    Capodecina

    Joined: 23 Nov 2002

    Posts: 16,167

    I get charged £30 every time I go overdrawn, if it happens again I will show up with a shotgun :cool: I don't even wanna think what £800 over is gonna be! Good luck :p
     
    Last edited: 13 Apr 2006
  4. daz

    Capodecina

    Joined: 18 Oct 2002

    Posts: 24,013

    Location: Bucks

    I assume they've discovered that you are no longer a student? :o

    Ask them if they will let you take out a loan for £800 and pay it back at an agreed monthly rate. :)
     
  5. Bar

    Mobster

    Joined: 9 Apr 2004

    Posts: 2,540

    Remember bank charges for going over your overdraft limit are reclaimable. Currently being reviewed to see if they are illegal.

    My bank have just sent a letter out to all customers advising that they will no longer charge for customers going over their overdraft limit.

    Sounds like an admission of guilt to me.
     
  6. GlasgowTitan

    Wise Guy

    Joined: 29 Jun 2005

    Posts: 1,416

    Location: Glasgow

    Then whats to stop people just spending and spending if they wont get penalised for it?
     
  7. Bar

    Mobster

    Joined: 9 Apr 2004

    Posts: 2,540

    Because the banks can demand an immediate settlement of the debt, they can affect your credit rating, they can demand the immediate return of all the cards, cheque books etc and send the bailiffs round to enforce it.

    The bank charges argument is that the charges are unreasonable and in effect are punitive which the banks are not being allowed to get away with - regardless of whether you agreed to the charges or not.
     
  8. Orifice

    Man of Honour

    Joined: 1 Oct 2002

    Posts: 5,522

    The banks will probably just remove your overdraft facility, and possibly do away with free banking. They wont lose out.
     
  9. Jolteh

    Wise Guy

    Joined: 21 Nov 2002

    Posts: 1,588

    Presumably some sort of facility in place by the bank to stop you taking money out when you reach the limit of you overdraft?

    But that's probably too simple, banks seem to love letting you take out more money than you're supposed to, then tell you it's wrong and charge you extortionate amounts.
     
  10. Matteysan

    Soldato

    Joined: 15 Nov 2004

    Posts: 5,992

    Location: Telford

    £30 for me every few weeks im over the draft
     
  11. whitecrook

    Sgarrista

    Joined: 22 Aug 2005

    Posts: 8,389

    Location: Clydebank


    Nope. Phone your branch and ask there maybe? They'd be able to offer proper advice and you may be able to get some kind of deal made to get out of a potentially expensive situation.
     
  12. Bracco

    Hitman

    Joined: 25 Oct 2005

    Posts: 548

    0845 609 0000 - Natwest customer services. Much better place to ask than computer forums.
    It's difficult to get so far overdrawn though unless it's 1st party fraud or account misuse (which imo are the same thing), so you're probably very aware of why the account is "suddenly" so overdrawn.
     
  13. Third Opinion

    Soldato

    Joined: 3 Jun 2005

    Posts: 5,368

    Location: West Sussex

    Please don't get me wrong I am not on my high horse.

    However you guys really need to budget rather than rely on others to stop you overspending. Student or not it's a life long lesson.

    The world is full of sharks that will take it advantage of you if you need to borrow more than you are allowed.
     
  14. Chads

    Mobster

    Joined: 8 Sep 2003

    Posts: 2,882

    Location: Location Location!


    What the hell is that post supposed to mean? My rent was taken out early, it's supposed to synchronise with my student loan. Tit.
     
  15. disfunktion

    Wise Guy

    Joined: 24 Nov 2003

    Posts: 1,706

    Location: Manchester

    If thats the case, explain it to them and more than likely they will give you a temporary overdraft increase until your loans comes in.

    HSBC have done so for me in the past, and they can do it with immediate effect over the phone, so i presume Natwest will offer the same.
     
  16. Shotgun_ned

    Hitman

    Joined: 17 Oct 2002

    Posts: 794

    Location: Warwick

    When I went overdrawn they charged me £28.50. They charge you for every item they're obliged to pay I think.
     
  17. NokkonWud

    Caporegime

    Joined: 1 Oct 2004

    Posts: 26,314

    Location: Redcar

    As a student you get a £1200 overdraft, you won't be charged, you can up it £200 per year at University.
     
  18. Bracco

    Hitman

    Joined: 25 Oct 2005

    Posts: 548

    First of all, I believe personal insults are not allowed on these forums. Secondly, if your rent is high enough to take you that far past your overdraft limit, then it must be charged per term. In which case, you will almost certainly have been given a letter at the start of the year telling you which dates the accomodation fees would be taken out. If it was an error on behalf of whoever took your rent out, then I doubt you'd be asking how much you'd be charged, and instead be insisting that they be responsible for any charged incurred.
     
  19. TomWilko

    Mobster

    Joined: 3 Jun 2003

    Posts: 4,090

    Location: UK

    To get this back on track and be somewhat helpful to the thread. Is this the first time you have been overdrawn? If it is, both myself and my mum have both gone accidently over the accounts on both the credit cards and bank accounts before.

    As a one time good will gesture if you ring and explain the situation there is a very good possibility they will remove the charges for you, especially as this appears as a genuine case. They are that scared of losing your custom!

    You can but try, if they refuse then you'll probably have to go to the person that takes the rent or see in your contract when payment should have been taken.

    Hope this helps.
     
  20. bigredshark

    Man of Honour

    Joined: 30 Jun 2005

    Posts: 9,516

    Location: London Town!

    natwest have charged me £30 or so in the past, and whoever it was, leave it out, there's plenty of legit reasons for going overdrawn without realising it.

    They'll probably charge you £30 i reckon, depending on what your local branch is like you might want to go have a chat with them, natwest have been very helpful and considerate for me in the past and they keep my business because of that